Direxion Daily Semiconductor Bear 3X ETF (Dinari Tokenized ETF) vs Tether Gold

Tether Gold (XAUT) is 2092796.4× the size of Direxion Daily Semiconductor Bear 3X ETF (Dinari Tokenized ETF) (SOXS) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.59 across 25 shared trading days). SOXS has been the more volatile of the two, at 173% annualised against XAUT's 24%.

Correlation: -0.59
Size ratio: 1 : 2092796.4

Direxion Daily Semiconductor Bear 3X ETF (Dinari Tokenized ETF)SOXS

$61.6400

24h: +9.39%
Market cap: $1,584
Volume 24h: $177
Volatility (ann.): 173%

Tether GoldXAUT

$4,098.84

24h: +3.15%
Market cap: $3.31B
Volume 24h: $329.79M
Volatility (ann.): 24%

SOXS 0.0%Share of the two combined market caps100.0% XAUT

Performance

SOXSXAUT

7 days+30.72%+0.05%SOXS
30 days+70.21%-2.08%SOXS
90 days—-4.40%—

Correlation

-0.59over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.5990d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	SOXS	XAUT
Max drawdown (400d)	-25.4%	-19.4%
Risk-adjusted return (90d)	0.41	-0.20

Relative strength over 90 days: SOXS outperformed XAUT by 72.8% — measured on the SOXS/XAUT ratio, so it holds regardless of market direction.

Direxion Daily Semiconductor Bear 3X ETF (Dinari Tokenized ETF) →Tether Gold →